State any one purpose for admitting a new partner in a firm. Post category:Accountancy Reading time:1 mins read SOLUTION When a firm requires more capital to expand its business, it may admit a new partner. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostGive the two main rights acquired by the new partner. Next PostState the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill. You Might Also Like What is meant by ‘Profitability of Business’? October 3, 2022 Akhil and Bimal are partners sharing profits in the ratio of 3: 2. Akhil gave loan to the firm of Rs. 1,00,000 on 1st October, 2021. On the same date, the firm gave loan to Bimal of Rs. 1,00 000. They do not have an agreement as to interest. Akhil had also given his personal property for firm’s godown at a monthly rent of Rs. 5,000. Firm earns profit of Rs. 1,03,000 (before above adjustments) for the year ended 31st March, 2022. Show the distribution of profit for the year. October 11, 2022 How does the market situation affect the value of goodwill of a firm? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Akhil and Bimal are partners sharing profits in the ratio of 3: 2. Akhil gave loan to the firm of Rs. 1,00,000 on 1st October, 2021. On the same date, the firm gave loan to Bimal of Rs. 1,00 000. They do not have an agreement as to interest. Akhil had also given his personal property for firm’s godown at a monthly rent of Rs. 5,000. Firm earns profit of Rs. 1,03,000 (before above adjustments) for the year ended 31st March, 2022. Show the distribution of profit for the year. October 11, 2022